Stock Repurchase Program Approved by Skyline Champion (NYSE:SKY)

Skyline Champion (NYSE:SKY - Get Free Report) announced that its board has authorized a share buyback program on Friday, May 30th, RTT News reports. The company plans to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

SKY has been the subject of a number of research reports. Barclays decreased their target price on shares of Skyline Champion from $97.00 to $72.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 28th. Royal Bank of Canada decreased their price objective on Skyline Champion from $96.00 to $82.00 and set a "sector perform" rating for the company in a report on Wednesday, May 28th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Skyline Champion has an average rating of "Hold" and an average price target of $80.60.

Skyline Champion Stock Performance

Shares of SKY traded up $1.21 during trading hours on Tuesday, hitting $64.71. The stock had a trading volume of 553,608 shares, compared to its average volume of 573,991. Skyline Champion has a fifty-two week low of $63.13 and a fifty-two week high of $116.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 2.59. The firm has a 50-day moving average price of $84.73 and a 200 day moving average price of $92.85. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 22.79 and a beta of 1.37.

Skyline Champion (NYSE:SKY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Skyline Champion had a net margin of 6.80% and a return on equity of 13.80%. The business had revenue of $593.87 million during the quarter, compared to analyst estimates of $595.42 million. During the same period in the previous year, the business posted $0.62 earnings per share. The firm's revenue for the quarter was up .7% on a year-over-year basis. As a group, research analysts anticipate that Skyline Champion will post 3.63 EPS for the current year.

About Skyline Champion

Skyline Champion Corporation produces and sells factory-built housing in North America. The company offers manufactured and modular homes, park models RVs, accessory dwelling units, and modular buildings for the multi-family and hospitality sectors. It builds homes under the Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes brands in the United States; and Moduline and SRI Homes brand names in western Canada.